Zelensky, IMF discuss post-war reconstruction of Ukraine

April 18 (UPI) -- Ukrainian President Volodymyr Zelensky and International Monetary Fund Director Kristalina Georgieva have discussed post-war reconstruction efforts as the conflict in the Eastern European country nears two months old.

In a statement Sunday, Zelensky said he spoke with Georgieva about preparations needed to spearhead such efforts as well as issues affecting Ukraine's financial stability.

"We have clear plans for now, as well as a vision of prospects," Zelensky said. "I'm sure cooperation between the IMF & [Ukraine] will continue to be fruitful."

Georgieva thanked Zelensky for the "very good call" in a separate statement while calling for continuing economic support for the besieged nation in order "to lay the foundations for rebuilding a modern competitive Ukraine."

The call was held after Ukrainian Prime Minster Denys Shmyhal spoke with Alfred Kammer, the director of the European Department of the IMF, on Saturday about the international financial institution's role in supporting Ukraine.

Shmyhal said both sides "agreed to make joint efforts for filing IMF's administrative account for [Ukraine]."

Russia launched its war against Ukraine on Feb. 24, resulting in the deaths of nearly 2,000 civilians with another 2,651 injured, according to United Nations data. More than 4.8 million have also fled the country with millions more internally displaced.

The war has also laid destruction to Ukrainian infrastructure, and Shmyhal said that mid-March preliminary estimates show $565 billion will be required to rebuild Ukraine after the war.

"In fact, these are the funds that will be needed to restore our state -- and at the expense of repatriation of Russia and at the expense of our partners," he said.

The United Nations Development Program citing government data said around the same time that at least $100 billion worth of infrastructure, buildings, roads, bridges, hospitals and schools have been destroyed.

The IMF in March approved the disbursement of $1.4 billion in emergency financing support to Ukraine.

Later that same month, the IMF released a report stating Ukraine's economy could contract by as much as 35% because of the war with its growth outlook for the fiscal year now forecast to drop by at least 13.5 percentage points compared to its pre-war baseline.

The subsequent punitive measures democratic nations have levied against Russia in response to the war have already taken a bit out of its economy, which is now sliding into a deep recession.